An exclusive marketing agent, Colliers International, has announced the sale of a three-storey terrace factory at Midview City for a guide price of $6.2 million or $688 psf.
The property, which comprises of a basement and roof terrace, is located in the heart of Sin Ming Industrial Estate along Sin Ming Lane. With a total strata area of around 9,009 sq ft, this factory is zoned as a “Business 1” site under the URA Masterplan 2019.
According to Colliers International, this 60-year leasehold property is fully leased and has been approved for use as a childcare centre. Currently, the property is occupied by Star Learner preschool and childcare centre.
Midview City, a 60-year leasehold light industrial building that was completed in 2012, offers easy access to Bright Hill MRT Station on the Thomson-East Coast Line. Two entrances, via Sin Ming Lane and Bright Hill Drive, make the property easily accessible from residential areas such as Bishan and Upper Thomson.
Raphael Lee, director of industrial services at Colliers, views the sale of this property as a rare opportunity for investors. As the property is being sold with the existing preschool operator in place, it presents a unique chance for those interested in this specific type of investment.
Moreover, as a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD), and therefore, can be purchased by foreigners. Interested parties can submit their Expression of Interest (EOI) until April 29 at 3pm to participate in the sale.
For those seeking further information on industrial property sales and rentals, the table below provides a price trend comparison between commercial and industrial properties, as well as past transaction data for both sales and rentals.